Companies in the South looking to break into the USA have been shown the ropes by international trade experts.
Ten businesses attended a round-table discussion at the event, held at Lime Wood Hotel, near Lyndhurst in the New Forest.
Export opportunities and challenges were highlighted by hosts Smith & Williamson, the accountancy and investment management group, and Santander bank.
The event, for ambitious mid-market companies, is a forerunner to a USA trade mission local representatives from the two companies are holding later this year.
Paul Duckworth, a partner at the South Coast office of Smith & Williamson in Southampton, said: “There are 320 million consumers in North America, with a wealth of opportunity for businesses excelling in goods and services here in the central south coast of England.
“President Barack Obama told an investment summit in 2013 that ‘there is no better place in the world to do business than the United States of America’, and we anticipate local firms putting Mr Obama’s words happily to the test.”
Alex Fuller, Santander’s regional director, based in Southampton, said: “The round-table discussion was well received by attendees, providing them with insights into the US market, trade portals and key strategic considerations. It was a fascinating and informative session.”
Guest speaker was P J Menner, from the US Commercial Service, the trade promotion arm of the USA’s Department of Commerce’s International Trade Administration.
Attendees included a manufacturer of high-pressure die castings, a shipping firm, a specialist in security and surveillance solutions, a recruiter, a software platforms advertiser and developers of marine sanitiser systems and medical devices.
A checklist for becoming established in the USA includes banking, legal, tax, back-office support, US investors, immigration, incentives, insurance, location and marketing/PR.
Smith & Williamson is a member of Nexia, a leading worldwide network of independent accounting and consulting firms, and Santander has more than 450 corporate team banking members in North America.
According to figures from UK Trade & Investment, annual UK trade in goods and services to the USA totalled £135 billion.
Around 17% of all British exports go there, with the USA the UK’s top export destination and ranked the fourth easiest country to do business with.
Top exports include machinery and transport, chemicals and related products and manufactured goods.
